With little hope of a weekend rally, Bitcoin price fell below $37,000


Bitcoin (Bitcoin) Fell below $37,000 in trading on June 18, which is the latest short-term bearish sign for currency holders.

BTC/USD 1-hour candlestick chart (Bitstamp). Source: TradingView

Buyers cannot match BTC bears

Data from Cointelegraph Markets Pro with Transaction view Track BTC/USD as it hit a new local low of 36,540 USD on Bitstamp.

After repeated testing of $37,000, the currency pair finally broke through, seeing a return of short-term volatility and ups and downs of hundreds of dollars.

This move may be significant because it eliminates most of the Big buy wall The previous price was higher than $36,500.

As of June 18, BTC/USD buy and sell orders on Binance. Source: Material Indicators/ Twitter

“Expected to rebound around 36k (not sure if it will rebound),” the popular trader Crypto Ed concluded in his latest report Twitter update Follow the lows.

“It’s hard to believe that we will rise over the weekend.”

As Cointelegraph Report, Due to the lack of overall market direction, BTC traders are at a crossroads under current conditions. The indicators also showed a mixed picture.

Mainstream adoption announcements from companies such as Goldman Sachs and Spanish banking giants Spanish Foreign Bank Similarly failed to boost sentiment, Goldman Sachs analysts described the situation as Mixed statement The real advantages of Bitcoin.

Altcoins do not respond well to new drops

At the same time, altcoins have also felt the pressure of the Bitcoin problem. Many of the top 50 cryptocurrencies by market capitalization lose 6% or more per day.

related: After Bitcoin futures enters the spot premium, traders look for bearish signals

Ether (Ethereum) Was less than $2,250 at the time of writing, down 6.6% on the day, and Flexa’s AMP was previously Outstanding high flyer, Is the worst performing stock of the day, with a decline of 23%.

“Some of these altcoins look ready to lose another 50%,” Twitter account Tyler Durden Say In the severe market forecast.